Note 3 - Earnings Per Common Share

9 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Earnings Per Share [Text Block]

3. Earnings per Common Share

Earnings per share for the three and nine months ended December 31, 2022 and January 1, 2022 are as follows (in thousands, except per share amounts):

	Three Months Ended				Nine Months Ended
	December 31,		January 1,		December 31,		January 1,
	2022		2022		2022		2022
Basic
Net earnings	$	21,054	$	18,664	$	42,288	$	44,454
Deduct preferred stock dividends paid		6		6		17		17
Undistributed net earnings		21,048		18,658		42,271		44,437
Earnings attributable to participating preferred		82		72		169		171
Earnings attributable to common shareholders	$	20,966	$	18,586	$	42,102	$	44,266
Weighted average common shares outstanding		7,582		8,603		7,858		8,813
Basic earnings per common share	$	2.77	$	2.16	$	5.36	$	5.02
Diluted
Earnings attributable to common shareholders	$	20,966	$	18,586	$	42,102	$	44,266
Add dividends on convertible preferred stock		5		5		15		15
Earnings attributable to common stock on a diluted basis	$	20,971	$	18,591	$	42,117	$	44,281
Weighted average common shares outstanding-basic		7,582		8,603		7,858		8,813
Additional shares issued related to the equity compensation plan		6		4		6		4
Additional shares to be issued under full conversion of preferred stock		67		67		67		67
Total shares for diluted		7,655		8,674		7,931		8,884
Diluted earnings per common share	$	2.74	$	2.14	$	5.31	$	4.98